An 'exact discretization' of the Schrodinger operator is considered and its
direct and inverse scattering problems are solved. It is shown that a diff
erential-difference nonlinear evolution equation depending on two arbitrary
constants can be solved by using this spectral transform and that for a sp
ecial choice of the constants it can be considered an integrable discretiza
tion of the KdV equation at large times. An integrable difference-differenc
e equation is also obtained.